Message For Ftse Traders......

[Chelski]

IG, FTSE Cash. I work from home so usually in front of a screen. I look for the swings in the day and usually after 15-30 on one trade. If i get it i close up and get on with other things. Still getting to grips with exiting, unfortunately greed does set in so i am off snowboarding for the week and will have some time to think about it then.

 

[vchohan]

I see.
Just out of curiosity how does FTSE cash work?

Do you phone up to buy or..?

 

[Chelski]

You can but i place over thre platform, effectively it is what the index is doing here and now. What are you trading futures or CFD?
I place £x per point, so 30 poins at £10 = Nice day.

 

[vchohan]

Isn't that spreadbetting?

I trade the FTSE100 spreadbet it.

I think I got confused am I right in saying FTSE100 cash is just the normal FTSE100 and not the FTSE future etc?

I'm still spreadbetting very low amounts at the moment until I get some consistency going. Pretty much break even at the moment but still in the learning process. Only been doing it for two months with a 4day a week job on top.

Broke even on that trade.

If you're spreadbetting why can't you just use the IG charting as I do?

 

[Chelski]

Its 24 hour, they make the market outside of these times using other markets that are still open. I like to stick to what is the true market, IG are always a point or 2 different but i factor that in.

 

[tennisball]

Hi, I am looking at using RSI signals and find it very useful. Do anyone know on what timescales I should be looking at? Or maybe not use at all? Sorry if it is a dumb question.

have ALOT to learn..

One of the lessons I picked up recently was to look at a few different timescales. 5 min, 15 min, 1 hour and 1 day. Also look at different indices as they influence each other. All the evidence adds up and a good short term setup can be ruined or helped by a long term trend. I'm only shorting at the moment as the long term looks bearish to me and I want as much evidence on my side as possible before taking a position. So I'll wait for a good setup to go short, short term, with a stop behind lots of good resistance. Saying that family visits mean I can't do any bleedin' trading till next Wednesday!!! The frustration!

 

[wallstreet1928]

exterminate, exterminate............all indices exterminated!!

my long term S&P short is looking cool..........no support now until 750

 

[Dentalfloss]

not quite....
we got a dow theory non confirmation yesterday.the dow closed at an all time low sice novemebr 08
HOWEVER the S &P 500 did not
looks like more churning at the bottom before it breaks down

 

[Chelski]

exterminate, exterminate............all indices exterminated!!

my long term S&P short is looking cool..........no support now until 750

Wallstreet,

Morning,
Where do you think we will open? SB's are at 3950ish as i type and we had a strong bounce off 3940 on Wednesday. Beyond this i see clear water to habe a go at the 3800 level again.

 

[wallstreet1928]

Wallstreet,

Morning,
Where do you think we will open? SB's are at 3950ish as i type and we had a strong bounce off 3940 on Wednesday. Beyond this i see clear water to habe a go at the 3800 level again.

according to my analysis
the highest it will go to is 3975(hits my trend line)....then down down down guys.......!!

If I were trading i would be short around 3950/60/70 level with stop loss 3980/3990/4000 .....

lets see how it plays out guys, ideally wait for DOw to go below 7400 before shorting like maniac?

 

[Dentalfloss]

no confirmation.the lowest for the s&p was 741/intraday
there are huge bullish divergences in the 10 day ma of the advance and decline line for both the s&p and the dow.
we could actually get some very short term bullish action before the real decline happens

 

[Chelski]

Wallstreet,

Here is my daily chart, the lower of the 2 horizontal lines is 3976, so we are on the same wave length! It gives us a nice descending triangle too.

 

[minime69]

morning all.

 

[S_D]

Morning chaps.

 

[wallstreet1928]

the only thing that concerns me guys with any short is that GOLD isn't rallying like it should.............

 

[Chelski]

Weaker minning will help FTSE slide?

 

[wallstreet1928]

3920 next target

 

[Chelski]

Wallstreet,

are you short already or looking for a break of 3920

 

[wallstreet1928]

according to my analysis
the highest it will go to is 3975(hits my trend line)....then down down down guys.......!!

If I were trading i would be short around 3950/60/70 level with stop loss 3980/3990/4000 .....

lets see how it plays out guys, ideally wait for DOw to go below 7400 before shorting like maniac?

short this market like hell ...............watch out for 3930!! its going to bounce then short again

 

[wallstreet1928]

short this market like hell ...............watch out for 3930!! its going to bounce then short again

take your profit guys and chill